FOR IMMEDIATE RELEASE
March 9, 2022
The CUNA/League-supported Credit Union Governance Modernization Act is included in the omnibus package of bills unveiled by House leadership Wednesday morning. The bill, from Reps. Tom Emmer, R-Minn., and Ed Perlmutter, D-Colo., would modernize the member expulsion process.
“We thank House leaders for including this bipartisan update to the Federal Credit Union Act in the omnibus package, and to Reps. Emmer and Perlmutter, as well as Sens. Tina Smith and Ben Sasse, for their work on this bipartisan issue,” said Jim Nussle, CUNA president/CEO. “This and other Federal Credit Union Act modernizations are essential to ensuring credit unions can continue to meet the needs of 21st-century consumers.”
The House is expected to vote on the omnibus bill Wednesday.
This move comes as nearly 4,500 credit union advocates met their elected members of Congress as part of the 2022 CUNA GAC.
The Credit Union Member Governance Modernization Act passed the House Financial Services Committee in November, and a bipartisan Senate version was introduced last May by Sens. Tina Smith, D-Minn., and Ben Sasse, R-Neb.
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 120 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth, and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.